Mason Painting Services Has a Weekly Payroll of $30,000

question 14

Multiple Choice

Mason Painting Services has a weekly payroll of $30,000.December 31 falls on Wednesday and Mason will pay its employees the following Monday (January 5) for the previous full week.Assume that Mason has a five-day workweek and has an unadjusted balance in Salaries Expense of $800,000.What amount should be debited to Salaries Expense on December 31?

• A)$800,000
• B)$12,000
• C)$30,000
• D)$18,000

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Definitions:

Separating Equilibrium

A condition in game theory or economics where different types of participants are sorted into different equilibria based on their characteristics or type.

Pooling Equilibrium

A situation in game theory where different types with different characteristics choose the same strategy, making it impossible to distinguish between them based on their actions.

Microeconomics

The branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms.

Wage Cut

A reduction in the rate of pay received by an employee.